A Sacramento magnificence queen who admitted working a multimillion-dollar funding fraud scheme additionally used a portion of the stolen cash for on line casino playing, federal authorities say.
Maria Dickerson, 47, who additionally used the names “Dulce Pino” and “Maria Dulce Pino Dickerson,” pleaded responsible to wire fraud and securities fraud. Prosecutors say she satisfied traders to pour cash into what she described as a profitable legal-financing enterprise. As a substitute, authorities say, a good portion of the money went towards her personal spending, together with playing.
The scheme ran from about 2020 by means of 2024, starting the identical yr she received a Ms. Lady Nevada pageant. Throughout that point, Dickerson solicited cash from roughly 156 traders by means of her firm, Artistic Authorized Fundings of California.
In line with a civil grievance filed by the Securities and Alternate Fee, she informed traders their cash could be used to fund civil lawsuits by offering advances to private damage attorneys. She promised that traders would see regular month-to-month earnings, typically claiming returns between 10% and 17.5%.
Authorities later decided that the funding operation she described was not actual.
State regulators say the enterprise grew largely by means of private connections and phrase of mouth. Potential traders have been typically invited to small gatherings the place the chance was introduced as a dependable technique to earn constant returns whereas serving to finance lawsuits.
Regulators in Washington state mentioned traders have been usually promised month-to-month returns round 10%, with the potential to earn much more in the event that they rolled their earnings again into this system. Investigators concluded the operation functioned in a Ponzi-like vogue, the place incoming funds from new individuals have been used to pay earlier traders.
Authorities say victims have been unfold throughout a number of states, together with Washington. Officers say neither Dickerson nor her firm held the licenses required to promote securities in Washington.
Sacramento magnificence queen spent investor cash on playing and luxurious journeys
Court docket information present Dickerson spent no less than $2.5 million of investor funds on private bills.
A few of that cash ended up in casinos. The Securities and Alternate Fee says Dickerson spent greater than $280,000 of investor funds at casinos.
Prosecutors additionally say the investor cash coated luxurious journey, personal jet journeys, and costly purchases. Amongst these purchases have been high-end autos, together with Mercedes-Benz automobiles.
Federal authorities say the funding choices themselves have been by no means registered with the Securities and Alternate Fee, which is required beneath federal legislation. Even so, prosecutors say Dickerson continued soliciting funds whereas making deceptive statements about how the cash could be used and what returns traders would obtain.
Regulators say many victims got here from the Filipino-American neighborhood and have been approached by means of trusted relationships and referrals.
Investigators additionally say that after the unique operation started to break down, Dickerson tried to maintain elevating cash by means of one other enterprise known as The Ubiquity Group. Authorities say she used related guarantees of high-return investments to draw further funds.
The investigation concerned the Federal Bureau of Investigation and IRS Legal Investigation, with help from the Alabama Securities Fee. Assistant U.S. Lawyer Dhruv M. Sharma is dealing with the prosecution.
Dickerson is scheduled to be sentenced July 28, 2026, by Senior U.S. District Decide John A. Mendez.
Wire fraud carries a potential sentence of as much as 20 years in jail and a wonderful of as a lot as $250,000. The securities fraud cost additionally permits for a most 20-year jail time period and fines that may attain $5 million.
Individually, the Securities and Alternate Fee has filed a civil enforcement case searching for monetary penalties and the restoration of funds authorities say have been obtained illegally. A decide will decide Dickerson’s last sentence after reviewing federal sentencing pointers and different components.
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